In second place for the quarter was ExxonMobil with $10 billion in earnings, followed by Chevron with $7.2 billion. The spots held by those two runner-ups are ironic since Apple CEO Tim Cook reportedly told employees recently that "the only companies that report better quarters pump oil."

In fact, only ExxonMobil and Russian energy company Gazprom have reported higher profits than Apple in the past, according to Statista.

In an e-mail sent to Apple employees, Cook even praised staffers for their "incredible hard work and focus" in "another record-setting quarter." The CEO noted that more than 75 million iOS devices were sold for the quarter, which he called a "testament to the strength of Apple's innovation."

And how did other tech giants fare for the quarter? Among all of those on the top 10 list, Microsoft earned $6.4 billion, while IBM took in $5.8 billion.

Certainly, things have changed in recent years. Apple now faces more competition in the smartphone and tablet arenas.

And Cook has had to try to fill the shoes of the late Steve Jobs, a challenging task for anyone.

But underestimating Apple has usually proven to be a mistake. The company may not be the darling of Wall Street right now. But it has a knack for shaking up the industry with new and unexpected products that manage to draw the attention of analysts, investors, and customers alike.